Veradigm explores strategic alternatives; Tom Langan named interim CEO

Veradigm Inc.

Board initiates process to explore strategic alternatives including sale, merger, or business combination.
Reaffirms FY2024 guidance: revenue $620-$635M; adjusted EBITDA $104-$113M.
Cash and cash equivalents $343M; funded debt $208M as of March 31, 2024.
Tom Langan appointed interim CEO effective June 7, 2024; Lee Westerfield extends interim CFO through Dec 31, 2024.
Interim CEO Dr. Yin Ho resigns as director; size of board reduced to six.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Dr. Shih-Yin Ho

Director

Veradigm Inc.

Effective: 2024-06-07
Filed: May 28, 2024, 7:59 PM ET

Dr. Ho informed the Board of Directors of the Company (the “Board”) of her decision to resign as a director of the Company, effective upon the expiration of Dr. Ho’s term of service on the Initial Term Date.

Appointed (interim)

Thomas Langan

Interim Chief Executive Officer

Veradigm Inc.

Effective: 2024-06-07
Filed: May 28, 2024, 7:59 PM ET

Effective as of the Initial Term Date, the Board appointed Mr. Thomas Langan as Interim Chief Executive Officer of the Company, and the Board reduced the size of the Board from seven directors to six directors.

Role change (interim)

Leland Westerfield

Interim Chief Financial Officer

Veradigm Inc.

Filed: May 28, 2024, 7:59 PM ET

On May 27, 2024, the Company entered into an extension letter agreement (the “Extension Agreement”) with Mr. Westerfield to extend his appointment through December 31, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Dr. Shih-Yin Ho resigned as Director at Veradigm Inc..

Action: resigned
Role: Director

Exact text from the filing

Dr. Ho informed the Board of Directors of the Company (the “Board”) of her decision to resign as a director of the Company, effective upon the expiration of Dr. Ho’s term of service on the Initial Term Date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas Langan was appointed as Interim Chief Executive Officer at Veradigm Inc..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

Effective as of the Initial Term Date, the Board appointed Mr. Thomas Langan as Interim Chief Executive Officer of the Company, and the Board reduced the size of the Board from seven directors to six directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Leland Westerfield changed role as Interim Chief Financial Officer at Veradigm Inc..

Action: extended
Role: Interim Chief Financial Officer

Exact text from the filing

On May 27, 2024, the Company entered into an extension letter agreement (the “Extension Agreement”) with Mr. Westerfield to extend his appointment through December 31, 2024.

View on SEC.gov

Source: SEC EDGAR

accession 0001193125-24-147595

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